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BAK moves to court to challenge legality of Digital Asset Tax

The Blockchain Association of Kenya (BAK) has filed a petition before the High Court of Kenya challenging the legality and constitutionality of the Digital Asset Tax (DAT) introduced by Finance Act 2023.

The Digital Asset Tax (DAT), introduced and passed as part of the Finance Bill 2023, imposes a 3% tax on digital asset trade set to take effect today.

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It also imposes onerous compliance requirements.

“We are deeply committed to advocating and lobbying for a conducive environment for innovation while ensuring legal clarity.” said BAK in a statement

The association added; “Our petition aims to address concerns about the DAT’s impact on both our industry and the broader economy,”

The matter will be mentioned before court on the 28th of September 2023.

In the spirit of lobbying, the association is hosting digital asset stakeholders for a workshop to shape Kenya’s national digital asset policy.

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